The U.S. House Select Committee on the Chinese Communist Party released a bipartisan investigative report titled "Free Trades, Hidden Ties: Exposing Webull's China Links" (《自由贸易，隐秘联系：揭露富途证券的中国关联》). The report states that the stock brokerage platform exposes the personal data of U.S. investors to China's surveillance risks, and it details the platform's ties with Chinese parties.
In May 2026, Li Hua, founder of Futu Securities, was fined over $270 million for "illegally facilitating cross-border investments." Futu stated that only 17% of its client assets originated from accounts in mainland China.
On May 22, 2026, eight departments including the China Securities Regulatory Commission (CSRC) jointly issued a plan announcing a two-year campaign to completely ban illegal cross-border securities and futures activities. The plan specifically named Futu Securities, Tiger Brokers, and Longbridge Securities for illegal operations, proposing to confiscate illegal gains and impose fines.